October 19, 2016 / 12:05 PM / a year ago

Abbott's third-quarter revenue rises nearly 3 percent

Oct 19 (Reuters) - Abbott Laboratories, which is in the process of acquiring St. Jude Medical Inc, reported a nearly 3 percent rise in quarterly sales, fueled by strength in its generic drug and medical device businesses.

Net loss from continuing operations was $329 million, or 24 cents per share, primarily due to an adjustment of 66 cents per share associated with Abbott’s equity investment in Mylan NV .

Abbott sold its generic drugs business catering to developed markets to Mylan in 2014. Abbott earned $580 million, or 39 cents per share, a year earlier.

Net sales rose to $5.30 billion from $5.15 billion. (Reporting by Natalie Grover in Bengaluru; Editing by Martina D‘Couto)

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